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Capital Allowances

2015 -16 2014 - 15
Plant and Machinery 18% 18%
-       Main writing down allowance 8% 8%
-       Long life assets, integral fixtures 100% 100%
-       First year allowances (certain environmentally efficient products)    
     
  230% 225%
-       R&D tax credits SME scheme 130% 130%
-       R&D tax credits Large Companies Scheme* £500,000 £500,000
-       Annual Investment Allowance**    
     
Cars    
-       CO2 emissions up to and including 130g/km*** 18% 18%
-       CO2 emissions over 130g/km 8% 8%
   

* Alternatively, an Above The Line (ATL) tax credit of 10% is available by election.

The expenditure credit scheme will run alongside the current large company scheme until 31 March 2016 when the large scheme will cease.

**The AIA maximum limit of £500,000 will stop on 31 December 2015 when the AIA will change to a new permanent limit of £200,000.

*** 2014-15: A rate of 100% was applied to cars with CO2 emissions of 95g/km or less. Universities and charities will be unable to claim R&D tax credits for expenditure after 1 August 2015.

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